Dedicated to Deposits: Deals, Data, and Discussion

5.25% Online 7-Month CD at Huntington Bank

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Huntington Bank is offering an online promotional CD with a yield of 5.25% APY and a term of 7 months. The minimum deposit is $2,000, and the maximum is $100K. According to the customer service rep, it's available to people in any state except California.

Update: A reader noted a major restriction to ACH funding so I called again. The CSR said that there was a mistake, and ACH funding is not an option for the CD. You have to mail in a check or deposit a check at a branch.

At maturity you can request a check by mail or a wire transfer ($10 fee). There's a 10 day grace period at maturity in which you can close without a penalty.

Huntington started an online savings account early last year (see post) which like this CD is available nationally except for those in CA. The rate on the savings account was as high as 5.30% APY, but now it's only 4.60% APY.

Huntington Bank is FDIC insured (Certificate # 6560). It has $36.0 billion in assets and $25.4 billion in deposits. Bankrate's rating for this bank is 3 out of 5 stars (performing) based on 6/30/07 data.

  Tags: CD rates

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Comments
2 Comments.
Comment #1 by Anonymous posted on
Anonymous
Just tried to apply online for the 7-month CD special and found that the maximum amount you can transfer online is $2,000. Anything over that amount coming from a non-Huntington source must be via check.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the note. I would never have guessed that they would restrict ACH deposits to only $2K.

1